Texmo Pipes and Products Ltd Acquires 51% Stake in Shree Venkatesh Industries Private Limited for Rs. 20.6 Crore

Texmo Pipes and Products Ltd has acquired 51% of the equity share capital of Shree Venkatesh Industries Private Limited for a total consideration of Rs. 20,60,98,200. The acquisition was done at arms length and the Company has paid the second and final call money amounting to Rs. 5,15,24,550. Shree Venkatesh Industries Private Limited is a Private Limited Company incorporated on 07.08.2020, engaged in the business of Manufacturing and trading of Plastic Products, Pipes, Tanks and Fittings and other allied services and products. The Company has paid the application money of Rs. 9,900/- per share and has subscribed, acquired and allotted 10,409 equity shares of the said Company. The Company will presently operate in India for its business and allied purposes and may operate and expand in other countries in near future.